Lloyds Finance was incorporated on August 13, 1985 as Magnificent Leasing and Investments and obtained the certificate for commencement of business on October 18, 1985. The company was promoted by R N Gupta of the Lloyds Group of Companies.
The company started bill discounting and inter-corporate deposit placement in April, 1990. The company further diversified its business profile by adding merchant banking, securities finance, equity research, portfolio management etc.
Four other companies belonging to the group viz. Avron Investments, Revlon Investments & Finance, Mukesh Properties and Magnetic Steels International with interest in investment, export, trading and real estate were merged with the company.
In the year 1993, the company launched ‘Inno Advisor’ a comprehensive package involving key specialist functions such as portfolio broad basing counseling and restructuring.
The Auto finance division introduced two new products in 1994 viz., Auto Sec H for financing secondhand cars and Auto Soft, a concessional finance scheme for clients with prompt repayment record.
Business area of the company
The company is engaged in the business of leasing, hire purchase, merchant banking, equity research, corporate finance, portfolio management, forex and other advisory services.